Los Angeles has decided its Olympic aspirations can wait four years, which means Paris is poised to host the 2024 Summer Olympics.

The two cities had both been awarded hosting rights by the International Olympic Committee and have been negotiating for the past three weeks on which city would go first and which would wait until 2028. The Los Angeles Times reported Monday that a deal between the three parties has been struck with Los Angeles agreeing to stage the 2028 Summer Games.

While Los Angeles was expected to push for youth sports funding and other possible financial considerations, terms of the deal were not immediately known. The Times reported an official announcement from the IOC could come later Monday. The deal would still need to be ratified by the IOC at its Sept. 13 meeting in Lima, Peru.

A spokesman for the LA 2024 committee did not immediately respond to a request for comment. The committee has scheduled a news conference for 8 p.m. ET.

The 2024 bidding process had been among the most calamitous with several cities pulling out of the race early, including Rome, Budapest, Boston and Hamburg, Germany. Eventually, only Los Angeles and Paris were left standing, and on July 11 the IOC voted unanimously to move forward with a dual award for the 2024 and '28 Summer Games, insuring that both cities would have hosting honors.

Even before negotiations began, it was widely presumed in Olympic circles that Los Angeles would end up with the 2028 Games. The Paris committee had remained steadfast in its desire to host in '24, while Los Angeles officials repeatedly highlighted their flexibility.

"Our objective is to best serve the IOC's needs, not only ours," Casey Wasserman, chair of the LA 2024 committee, said earlier this month. "That's why we've never given an ultimatum about 2024."

The agreement means that both Paris and Los Angeles are poised to host an Olympics for a third time. Los Angeles previously staged the Games in 1932 and '84; while Paris hosted in 1900 and '24. While Salt Lake City hosted the 2002 Winter Games, no American city has hosted a Summer Olympics since Atlanta in 1996.